Business
Image Protect Inc. (IMTL) Announces the Launch of an NFT Music site with a Subsequent Launch of a December Release of a Record and Music Video with Hip Hop Icon Jim Jones and a Major Feature Artist
Image Protect Inc. (IMTL) Announces the Launch of an NFT Music site with a Subsequent Launch of a December Release of a Record and Music Video with Hip Hop Icon Jim Jones and a Major Feature Artist.
About this update from Image Protect, Inc.
[{"type":"text","content":"NEW YORK, NY / ACCESSWIRE / October 14, 2021 / Image Protect Inc. (OTC PINK:IMTL) (https://imageprotect.com/) ("Image Protect", "IMTL", or the "Company"), an emerging Media Company, is pleased to announce and detail the official launch of Tokentunz.com, a music site built to release original music by independent artists direct to their fan base utilizing NFTs with blockchain technology.The Company has reached an agreement and executed it with hip hop artist Jim Jones. The Agreement details a Christmas theme song set to be released for this December and the Agreement calls for a major Feature artist to be included on the Record. The Record will be released as an NFT and a portion of the Publishing, and streaming revenue will be paid directly to the NFT owner for the life of the song. The Company is set to release seven thousand NFTs at $99.00 each, giving the NFT owner a larger portion of the revenue. The smart contract in the architect of the NFT will incorporate a direct payment to the NFT holder based on 25% of the combined revenue from the publishing and streaming revenue. The agreement calls for Tokentunz.com to mint 7,000 NFTs which provides the Company and the Artist an instant revenue event of $693,000.00 on the day of release if all NFTs are sold. Based on historical record sales of Jim Jones's music, which includes "We fly High" a Single that went Platinum, the Music NFT could result in a substantial financial return in relation to the cost of the NFT for the owner and due to the fact, it's a Christmas themed song, it could return streaming and Publishing revenue far into the future. This also provides the Artist and Company with an immediate revenue stream, as opposed to waiting for the Royalty revenue to commence. The company is in talks with several Artists and Producers to build a steady stream of Artists that utilize the NFTs to directly drop records to their fan base without the cumbersome agreements and contracts of the traditional Record label path. Image Protect CEO, Lawrence Adams, "We are extremely excited about being first to market by delivering an NFT of a Record single by a major Artist with streaming and Publishing revenues sent directly to the NFT holder. To be Partnering with Jim Jones at our launch, is an honor and we plan on continuing this model far past ...